Question
What is the fundemental difference between profit and interest. I find this very confusing as they sound very similar to me.
Jazakallah
Answer
Read Ma’ariful Quran of Mufti Shafiee saheb Rahmatullahi Alayhi, Ayat No 275, Surat No.2.
The basic difference is profit is where there is a commodity on at least on side, and interest is where there is money on both sides. So you can’t take money for money with extra. Similarly when two commodities are of similar nature and they are sold by weight or measure then when exchanging them, any extra will be interest. E.g. rice, wheat, dates, etc.
If you have a good quality product and the other party has one of a lesser quality and you were to exchange, then you can’t give one kilo and take two kilos from them.
please is it haram for a muslim to work in non Islamic bank.is it haram for a muslim to buy shares.indeed am confused about this teaching
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This requires some explanation
Pls consult a local alim
But in an Islamic bank, they charge ‘profit’ instead of interest on loans. They work on the same principle, so isn’t it just interest under a different name?
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You could say that, bcos the basic principle of giving less and taking more is there. No matter what name you give, you lend out less and ask in return for more.
salam, buku mana kah yang tuan refer pasal perbezaaan dan persamaan diantara profit dan interest. saya ingin mengetahui nya dgn lebih mendalam. kalu boleh emel di [email protected] harap tuan dipermudahkan segala urusan.
I like this website alot but it sometimes does not give you the answer you looking for
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I’m really sorry about that.
Inshallah I will try to be more clear in future
Wassalam